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Namibia's fruit and nut exports hit over N$1.3 billion

By January 18, 2023 2121 0
Namibia's fruit and nut exports hit over N$1.3 billion

Namibia's fruit and nut exports, primarily grapes, reached a value of over N$1.3 billion between November 2021 and November 2022, according to data from the Namibia Statistics Agency (NSA).

The highest export value, N$531.1 million, was recorded in December 2021 and the lowest value, N$5.8 million, was recorded in June 2022. In November 2022 alone, fruit and nut exports totaled N$371.8 million, with N$131.2 million going to the Netherlands and N$105.8 million going to the United Kingdom.

However, the country also imported fruits and nuts worth N$35 million, primarily from South Africa, contributing to a trade deficit of N$1.5 billion for the period.

Overall, November 2022 saw export earnings of N$8.9 billion, a 8.1% increase from the previous month, and imports amounted to N$10.5 billion, a 1.4% increase from the previous month. This resulted in a 25.9% improvement in the trade deficit when compared to the deficit of N$2 billion recorded in the previous month.

According to the NSA, the main contributors to the high import bill in November 2022 were petroleum oils, with imports valued at N$1.5 billion and a trade deficit of N$1.2 billion, and motor vehicles for transportation, valued at N$427 million with a trade deficit of N$419 million. Other commodities that recorded trade deficits were telecommunications equipment and civil engineering and contractors' equipment, with deficits valued at N$225 million and N$187 million, respectively.

Mining and quarrying emerged as the largest exported goods during the period, with a value of N$4.8 billion, accounting for 53.3% of total exports. This was an increase of N$847 million from the N$3.9 billion recorded in October 2022. Products from the manufacturing industry came in second place, with exports valued at N$3.4 billion in November 2022, a decrease of N$456 million from the previous month.

Namibia's top five export markets in November 2022 were Botswana, South Africa, China, Zambia, and Belgium, accounting for 69.4% of total exports. Precious stones (diamonds) were the country's largest export commodity during November 2022, accounting for 30.3% of total exports, primarily destined for Botswana, the United Arab Emirates, and Hong Kong.

For the period of January to November 2022, Namibia exported goods worth N$87 billion and imported goods worth N$116.3 billion, resulting in a trade deficit of N$29.3 billion.

The NSA states that trade activity in Namibia continued to increase during this period when compared to the same period in 2021, with cumulative exports from January to November 2022 standing at N$87 billion, representing a 46.1% increase from the N$59.6 billion recorded during the same period in 2021.

 

 

 

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Last modified on Wednesday, 18 January 2023 19:37
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